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Apple allocates its first $400M from $2.5B commitment to address California’s housing crisis

Apple announced this morning it’s allocating more than $400 million toward affordable housing projects and other homeowner assistance programs in California, as a part of its earlier multi-year pledge of $2.5 billion to address the state’s housing crisis and homelessness issues.
The funding is expected to support thousands of Californians with first-time homebuyer assistance or new, affordable housing units, Apple says.
Projects launching in 2020 include 250 new units of affordable housing across the Bay Area — the first affordable housing developments funded in a private-public partnership with Housing Trust Silicon Valley. The units will span the North, East, and South Bay regions, and will include many units reserved for veterans, the homeless or formerly homeless, and residents with developmental disabilities.
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